Date: November 9, 2024
The upward breakthrough trend continues to await final confirmation; pay attention to the possibility of a short-term pullback adjustment in the market.
Daily Level: After reaching a historical high yesterday, the closing price settled below the upper shadow of the previous day. If the upward momentum remains unchanged, only one closing price that creates a new high is needed to confirm the "1+3" model of upward breakthrough, so pay attention to today's candlestick closing situation by tomorrow morning. The ETF market is closed over the weekend, leading to poor market liquidity, and prices may still show a need for adjustment in the short term.
4-Hour Level: From the perspective of the 4-hour chart, trading volume has also correspondingly diminished. In terms of candlestick patterns, an ascending wedge has appeared, approaching the upper edge of the ascending channel, and the price may subsequently break down and adjust to near the midpoint of the ascending channel. The support level is at the Fibonacci 0.382 level (around 72600).
